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Banknotes of the Canadian dollar are the banknotes or bills (in common lexicon) of Canada, denominated in Canadian dollars (CAD, C$, or $ locally). Currently, they are issued in $5, $10, $20, $50, and $100 denominations. All current notes are issued by the Bank of Canada, which released its first series of notes in 1935.
The Canadian Bank Note Company (CBNC) is a Canadian security printing company. It is best known for holding the contract with the Bank of Canada to supply it with Canada's banknotes since 1935. The company's other clients include private businesses, national and sub-national governments, central banks , and postal services from around the world.
Final conceptual designs were created by Canadian Bank Note Company, British American Bank Note Company, and De La Rue, the latter being the first foreign firm involved in the design of Canadian banknotes. [2] The design by De La Rue was selected by the Bank of Canada in 1964 as the basis for the new series. [2]
As of the end of 1944, the Canadian government withdrew permission for Canadian banks to issue new notes for circulation in Canada; and by 1950, liability for all outstanding Canadian bank notes was transferred to the Bank of Canada, where such notes may still be redeemed. [4] The total value of the notes outstanding at that time was ...
The primary impetus for the new banknotes was "the need to stay ahead of counterfeiters". [2] [3] By 2002, 10% of retailers in some parts of Canada refused to accept the $100 banknotes of the 1986 Birds of Canada series in financial transactions, [4] and by 2004, the counterfeit ratio for Canadian currency had risen to 470 parts per million (ppm). [5]
The Canadian ten-dollar note is one of the most common banknotes of the Canadian dollar. The current $10 note is purple, and the obverse features a portrait of Viola Desmond , a Black Nova Scotian businesswoman who challenged racial segregation at a film theatre in New Glasgow, Nova Scotia , in 1946.
The Bank of Canada is the sole issuing authority of Canadian banknotes, [7] [8] provides banking services and money management for the government, and loans money to Canadian financial institutions. [9] [10] The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935.
The obverse of the English-language version of the $25 banknote. The portraits are of George V on the left and Mary of Teck on the right.. The first commemorative banknote issued by the Bank of Canada was a $25 banknote in the 1935 series to commemorate the Silver Jubilee of the accession of George V to the throne.
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